Hollywood star Paul Walker of The Fast and the Furious fame passed away due to an unfortunate vehicular accident on November 30, Saturday.

The 40-year-old celebrity was reported to have attended a charity event for super typhoon Yolanda victims, when the sports car that his friend was driving crashed into a light pole and burst into flames. Paul and his friend were both "pronounced dead at the scene," according to a BBC report.

Universal Pictures, the production company behind The Fast and the Furious franchise, has released an official statement on the unfortunate incident.

"Paul was truly one of the most beloved and respected members of our studio family for 14 years, and this loss is devastating to us, to everyone involved with the Fast & Furious films, and to countless fans. We send our deepest and most sincere condolences to Paul's family."

"Paul Walker took a simple idea and made it a reality by creating Reach Out WorldWide (ROWW). Four years later Reach Out WorldWide has evolved into something special... It is with a truly heavy heart that we must confirm that Paul Walker passed away today in a tragic car accident while attending a charity event for Reach Out Worldwide. He was a passenger in a friend's car, in which both lost their lives. We appreciate your patience as we too are stunned and saddened beyond belief by this news. Thank you for keeping his family and friends in your prayers during this very difficult time. We will do our best to keep you apprised on where to send condolences," the status updates read.

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